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|English to Spanish translations [Non-PRO]|
|English term or phrase: nondepository trust company|
Despite stepped-up government efforts to prevent illegal ownership of U.S.-based banks, a confidential state banking probe has concluded that a prominent financier secretly controlled the now-defunct xxx Bank.
The report also charges that the banker used fake transactions from the nondepository trust company to fool regulators about the health of his failing financial empire.
|entidad fiduciaria no depositaria.|
"trust" es fiduciario en este caso.
Creo que corresponde aclarar que se trata de una entidad "no depositaria", es decir que no recibe depósitos, sólo presta dinero y administra fondos.
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Local time: 22:01
|4 KudoZ points were awarded for this answer |
sociedad de inversiones
Eurodicautom indicates that "trust company" is a "sociedad de inversiones". Nondepository simply means that the company does not serve as a depository for the holdings.
North Carolina offers the following definitions of "trust companies".
SECTION .0300 TRUST DEPARTMENT
As used in this Section, the following definitions apply:
(1) The term "trust business" shall be construed to mean the business of settling estates, administering trusts and guardianships and performing agencies in all appropriate cases for individuals; partnerships; associations; business corporations; public, educational, social, recreational, and charitable institutions; and units of government.
(2) The term "trust" shall be construed to include, where the text does not indicate to the contrary, all property held by the trust department of a bank in a fiduciary capacity.
(3) "Fiduciary" means a bank undertaking to act alone or jointly with others primarily for the benefit of another in all matters connected with its duties and responsibilities as trustee executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics, managing agent, and any other similar capacity.
(4) "Managing agent" means the fiduciary relationship assumed by a bank upon the creation of an account which confers investment discretion on the bank and which imposes upon it the fiduciary responsibilities imposed upon executors, administrators, guardians, or trustees under will or deed, but as to which the technical legal relationship is that of agent and principal.
(5) The term "bank" shall be construed to include, where the text does not indicate to the contrary, any bank or nondepository trust company acting as fiduciary.
Local time: 20:01
Native speaker of: English
PRO pts in pair: 306
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